Question
Accounting equation Captivating Inc. is a motivational consulting business. At the end of its accounting period, May 31, 20Y2, Captivating Inc. has assets of $550,470
Accounting equation
Captivating Inc. is a motivational consulting business. At the end of its accounting period, May 31, 20Y2, Captivating Inc. has assets of $550,470 and liabilities of $173,950. Using the accounting equation and considering each case independently, determine the following amounts:
a. Stockholders' equity as of May 31, 20Y2. fill in the blank 1 of 1$
b. Stockholders' equity as of May 31, 20Y3, assuming that assets increased by $86,970 and liabilities increased by $52,290 during 20Y3. fill in the blank 1 of 1$
c. Stockholders' equity as of May 31, 20Y3, assuming that assets decreased by $43,490 and liabilities increased by $15,410 during 20Y3. fill in the blank 1 of 1$
d. Stockholders' equity as of May 31, 20Y3, assuming that assets increased by $72,660 and liabilities decreased by $27,520 during 20Y3. fill in the blank 1 of 1$
e. Net income (or net loss) during 20Y3, assuming that as of May 31, 20Y3, assets were $693,590, liabilities were $112,850, and no additional common stock was issued or dividends paid.
Net incomeNet loss
fill in the blank 1 of 1$
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